Hey everyone, it’s Friday! You know what that means: a fresh new episode of “The Rewind.” For those who don’t know, “The Rewind” is our latest spin-off from “Iron Heels,” and it promises to bring you all the vital nuggets from Propelio’s rich array of real estate shows. Hosted by none other than Bettina Hernandez and Katie, we’re here to break down the week’s content efficiently.
We have so many shows to cover and golden nuggets to share, so let’s dive right in!
Overview of Propelio Shows
Propelio covers an array of real estate topics throughout the week. Each day features experts sharing their knowledge and experiences. From ethical equity deals to the ins and outs of hard money lending, this week had it all.
Monday Show with Daniel Moore and Guest Jay Coleman
Ethical Equity Deal Breakdown
Daniel Moore and his guest Jay Coleman plunged into an ethical equity deal that left us stunned. Here’s a quick rundown:
- Deal Details: The property had an ARV of $140,000. The loan amount left was $60,000, with $30,000 in back payments, totaling $90,000 in debt.
- Challenges: The house required significant repairs including a new roof, termite damage, and potential foundation issues. Despite this, Daniel saw an opportunity where others saw a dead end.
- Short Sale Process: Initially, he aimed for a short sale. He faced several hurdles as the property went through various financing options, and the entire ordeal lasted around seven years.
- Final Outcome: In the end, Daniel netted $100,000 after managing to rent it out and eventually sell it.
Key Lessons
- Persistence and Creativity: Daniel’s resourcefulness turned a seemingly hopeless situation into a profitable one.
- Transparency: Honesty with sellers and stakeholders can make or break a deal.
- Monetizing Leads: Whether it’s through short sales, rentals or owner financing, there are multiple ways to profit from leads.
Tuesday Show with Cory Thompson
Live Cold Calling Session
Cory Thompson’s episode featured a live cold calling session with guest Sara Wilson. This was a brilliant segment full of practical tips for cold calling in real estate.
Tips for Effective Cold Calling
- Be Yourself: Avoid sounding like a robot by sticking rigidly to scripts. Instead, have a few bullet points for guidance.
- Build Confidence: The more calls you make, the easier it gets. Embrace the nerves and push through.
- Handling Objections: Expect rejections and handle them gracefully. Each “no” is a step closer to a “yes.”
Driving for Dollars App
Propelio’s upcoming app, set to release in early March, allows investors to pinpoint properties and gather crucial owner information while driving around neighborhoods. This app will be a game-changer for on-the-go investors.
Titanium Tuesday with RJ Bates and Brandon Richards
Work-Life Balance
This episode with RJ Bates and guest Brandon Richards tackled the challenge of maintaining a work-life balance.
Importance of Systems and Automation
- Setting Up Systems: Automated systems save time and remove repetitive tasks, freeing you to focus on growth.
- Outsourcing: Delegate tasks that drain your energy. For instance, if you hate bookkeeping, hire someone to do it.
Bigger Deals Mean Fewer Deals
RJ highlighted the benefits of pursuing larger deals. Instead of managing numerous small transactions, focus on fewer big deals for higher profits.
Key Lessons
- Legacy without Neglect: You can leave a lasting legacy without putting your family on the sidelines.
- Follow Passion: Focus on activities that make you happy and fulfilled.
Wednesday Show with Russ Keith, Claire Cruz, and Guest Toby Potter
Journey from Landscaper to Hard Money Lender
Toby Potter shared an inspiring story of how he transitioned from a landscaper to a national hard money lender with Global Integrity Finance.
Types of Funding
- Non-Institutional Funding: This type doesn’t require a stringent background check and often has fewer regulations.
- Institutional Funding: Requires more compliance and background checks but offers stability.
- Syndicated vs. Non-Syndicated Funding: Syndicated funding involves multiple investors having a say in decisions, whereas non-syndicated gives you more control.
Insights for Private Investors
Toby’s journey offers invaluable insights for anyone looking to enter hard money lending or seeking investment opportunities.
Iron Heels with Kelly Smith, J Lee, Casey, and Guest Angie
Pros and Cons of Being a Licensed Real Estate Agent
This episode explored the pros and cons of holding a real estate license as an investor.
Benefits of Having a License
- Keep Your Commission: Save money by handling your transactions.
- Access to Inventory: Direct access to MLS listings and potential deals.
Drawbacks
- Broker Fees: You have to pay a percentage to your broker.
- Restrictions: Some brokerages may limit your ability to handle off-market deals.
- Higher Standards: You’ll be held to a higher ethical standard, which isn’t a con if you’re already doing honest business.
Choosing the Right Brokerage
Interview potential brokers and ensure they understand and support your real estate investment strategies.
Friday Show with Ryan and Guest Chris Soucy
Entrepreneurship Struggles Across Different Industries
Though Chris Soucy isn’t from the real estate world, his struggles and strategies as an entrepreneur resonated with us. His focus is effective for anyone running a business.
Similar Challenges
- Persistence: Failures are part of the journey. What matters is how you bounce back.
- Passion and Resilience: Loving what you do makes all the hard work worth it.
Key Lessons
- Focus on Strengths: Center your efforts on what you’re good at.
- Willingness to Struggle: Be ready to face challenges head-on.
- Embrace Failures: Every failure is a lesson that brings you closer to success.
Engaging with the Audience
We encourage you to like, share, and comment on our content. Tell us what you found valuable and if any particular segment struck a chord with you. If you want to be a fan co-host, let us know!
Final Thoughts
Thank you for joining us for this week’s episode of “The Rewind”! We’ve covered an impressive range of topics, from ethical equity deals and cold calling techniques to balancing work and life, and transitioning careers. Whether you’re a seasoned investor or just starting, there’s something here for everyone. Remember to engage with us by liking, sharing, and commenting on our content. Your feedback is invaluable, and we’d love to hear what resonated most with you. Until next time, keep learning, stay persistent, and let your passion drive your success in real estate. Happy investing!
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